United Kingdom: Woolen Yarn Market 2024

Woolen Yarn Market Size in the UK

The UK woolen yarn market fell slightly to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Woolen Yarn Production in the UK

In value terms, woolen yarn production dropped to $X in 2023 estimated in export price. In general, production recorded a noticeable setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Woolen yarn production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Woolen Yarn Exports

Exports from the UK

In 2023, after two years of growth, there was decline in shipments abroad of yarn of wool, when their volume decreased by X% to X tons. Overall, exports saw a perceptible curtailment. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, woolen yarn exports shrank to $X in 2023. Over the period under review, exports recorded a perceptible downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), Finland (X tons) and Lithuania (X tons) were the main destinations of woolen yarn exports from the UK, together accounting for X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for woolen yarn exported from the UK were Italy ($X), Finland ($X) and the Netherlands ($X), together comprising X% of total exports. Belgium, Lithuania, the United States, Ireland, Poland, Spain, Norway, Denmark, Portugal and Germany lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average woolen yarn export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, export price indicated a mild increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, woolen yarn export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into the UK

In 2023, purchases abroad of yarn of wool decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports showed a slight slump. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, woolen yarn imports contracted slightly to $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Lithuania (X tons), India (X tons) and Italy (X tons) were the main suppliers of woolen yarn imports to the UK, together comprising X% of total imports. Denmark, Portugal, Hungary, Spain, Bulgaria, Mauritius, Turkey, Peru, Poland and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest woolen yarn suppliers to the UK were Italy ($X), India ($X) and Lithuania ($X), with a combined X% share of total imports. Peru, Denmark, Portugal, Bulgaria, Mauritius, Poland, Turkey, Hungary, Spain and Belgium lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Hungary, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average woolen yarn import price amounted to $X per ton, remaining stable against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2022 when the average import price increased by X%. Over the period under review, average import prices attained the maximum in 2023 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Peru ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform